Bitcoin
GameStop, Bitcoin, Saudi Aramco and Hipgnosis
Paul Dano in the 2023 film Dumb Money, which chronicles the January 2021 GameStop short squeeze. GameStop shares soared on Monday after Keith Gill, the man who inspired the 2021 short squeeze, appeared to show a position of $181.4 million in GameStop shares and options. (Reference media, Reference media)
GameStop (GME)
Meme GameStop shares rebounded and were the number one trending ticker in pre-market trading on Monday on speculation that Keith Gill, the man who inspired the 2021 short squeeze, could currently have a significant position at the video game retailer.
Gill, who goes by Roaring Kitty on X and YouTube and DeepF — Value on Reddit, appeared to post a screenshot showing a $181.4 million (£142.6 million) position in GameStop shares and options.
The options would allow him to buy the shares at $20 per share.
See more information: FTSE 100 LIVE: Europe in the green as London shares make biggest jump in a month
“The recent renewed interest in meme stocks, coming as major U.S. indexes struggle to reach new highs, is a sign of excessive exuberance and is more likely a negative omen given the growing headwinds in the markets,” Robert Lea, a Bloomberg Intelligence analyst, he said.
GameStop largely relies on brick-and-mortar stores and has struggled with customers turning to the Internet to buy video games and collectibles.
The price of Bitcoin rose slightly on Monday, adding 1.74% on the day, reaching $68,858 at the time of writing. However, overall it has remained heavily range-bound since failing to break above $70,000 again in late May.
Bitcoin saw little price movement even as El Salvador President Nayib Bukele – who adopted the cryptocurrency as legal tender in 2021 – was re-elected to a second term over the weekend.
See more information: Live Crypto Prices
The price was also supported by Donald Trump fans after the former US president added the option to accept bitcoin as campaign donations.
Despite the drop in earnings, bitcoin investor Peter Brandt is predicting that the cryptocurrency could reach $150,000 by September 2025.
Saudi Aramco (2222.SR)
Saudi Aramco executives are expected to hold a series of events in the UK and US as they look to drum up interest for a $12 billion share sale.
Saudi Arabia’s state-owned oil giant abandoned an international roadshow for its $29.4 billion initial public offering five years ago after foreign investors raised doubts about its valuation expectations, leaving the government dependent on local buyers. .
The story continues
See more information: Stocks that are trending today
However, its secondary listing plans were exceeded within hours of the opening of trading on Sunday.
As a result, Aramco is planning investor-attracting events in London this week, at least one of which will be attended by Chief Executive Amin Nasser, according to Bloomberg News.
The Saudi government owns about 82% of Aramco, while the kingdom’s wealth fund holds an additional 16% stake.
Black stone (BX) announced plans to improve its bid for Hipgnosis as part of a restructured offer for the music rights owner designed to facilitate the completion of the deal.
On Monday, the US private equity firm said it had revised the offer price following discussions with Hipgnosis’ board.
It rose by a cent per share, valuing Hipgnosis at around $1.58 billion (£1.27 billion), a premium of almost 50% over the closing price of Hipgnosis shares before an offer was made .
See more information: Stocks to watch this week: WH Smith, B&M, BAT and Inditex
The two companies had previously agreed to a deal that will see Hipgnosis removed from the public markets.
However, the process was complicated by tensions between the London-listed fund and its founder, Merck Mercuriadis, who runs consultancy firm Hipgnosis Songs Management (HSM).
Watch: What Happened in Meme Star GameStop’s $933 Million Stock Sale
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Bitcoin has lost out on an asset rally fueled by positive comments from the Federal Reserve, while a tight US election race casts doubt on whether Donald Trump will get the chance to implement his pro-crypto agenda.
The digital asset fell 2.4% on Wednesday, following a Fed-fueled surge in an index of megacap tech stocks Magnificent Seven by one of the largest margins in 2024. The token retreated further on Thursday, changing hands at $63,750 as of 6:10 a.m. in London.
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
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Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
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The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
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Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
Bitcoin
Bitcoin (BTC) miner Riot Platforms (RIOT)’s second-quarter loss widens to $84.4 million as costs rise
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At a national bitcoin conference in Nashville, Donald Trump finally laid out some of his crypto policy proposals, including a long-awaited part of his plan — building a strategic bitcoin reserve. CNN’s Jon Sarlin explains what it is and why the crypto industry wants it.
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